From market newcomer to trusted partner

Axpo has recently moved into its new office in the heart of Dublin – a milestone that reflects the company's growth and long-term commitment to the country’s energy market. We spoke with David Meade, Head of Origination and Country Manager for Ireland, about building the Irish business from the ground up, navigating a rapidly changing energy landscape, and supporting the local energy transition.

Right place, right time

Axpo entered the Irish market in 2018 at a pivotal moment. In October that year, Ireland launched the Integrated Single Electricity Market (I-SEM), one of the most significant changes to the country’s wholesale electricity sector in recent times. I-SEM brought opportunities, but also a level of uncertainty and risk for energy producers, suppliers and consumers.

For David Meade, who joined Axpo as its first employee in Ireland, it was the ideal time to bring the company’s expertise to a rapidly evolving energy landscape. “We entered just before I-SEM came into effect,” David recalls. “The new market structure created an immediate need for risk management services, an area in which Axpo is very familiar with, as it has been providing similar services across Europe for many years.”

But building the Irish business from the ground up was no easy feat. One of David’s first priorities was introducing Axpo to a market in which the brand had little local recognition: “Axpo wasn’t a well-known name in Ireland at the time. So my first task was to get out there and meet people, understand what the market needed and demonstrate how our offering could support them.”

Drawing on his experience in both the Irish and UK energy sectors, David began developing relationships with renewable producers, suppliers and industrial customers. “That’s one of the things I’m most proud of,” he says. “A lot of the customers we started working with in the early years are still customers today.”

A new space for a thriving team 

Axpo moved into its new office on Dublin’s Baggot Street earlier this year, marking an important milestone in the company’s Irish journey. More than just a new workspace, the move represents eight years of growth, strong customer relationships, and a long-term commitment to the country’s energy market.

“It’s great to finally move into this new space on Baggot Street,” David says. “Now we have a place we can call our own, where we can welcome customers, collaborate as a team and continue building a strong business for the future.”

The new office reflects how far Axpo has come in Ireland since 2018. From just one employee, the Irish branch now has a specialised team of four – covering origination, portfolio management, trading and operations – supporting customers across the energy value chain. Similar to many of Axpo’s other international offices, the Irish operation follows an agile model that combines local market knowledge with the resources, expertise, and capabilities offered through the wider Axpo organisation and teams in London and Baden. 

Supporting customers across the energy value chain

Over the past eight years, Axpo has established itself across Ireland’s energy value chain, supporting a diverse range of customers – from renewable producers and electricity and gas suppliers to large pharmaceutical and manufacturing businesses and data centres– with energy supply contracts, Power Purchase Agreements (PPAs), asset optimisation, forward market access and risk management solutions.

“We don’t offer a one-size-fits-all product,” David comments. “Every customer has different challenges, so we work closely with them to design customised solutions that fit their specific needs.”

What’s more, as Ireland’s power market is relatively small compared with some of the larger European markets, access to forward market liquidity can sometimes be limited. David explains that Axpo helps bridge that gap by providing customers with access to products and liquidity that may not otherwise be readily available: “In today’s markets, speed and flexibility are real advantages – and we can offer tailored solutions and execute them quickly.” 

Navigating uncertainty in a shifting energy landscape

Few industries have experienced as much change in recent years as the energy sector. The Covid-19 pandemic, geopolitical tensions and the energy crisis triggered by the war in Ukraine are just some of the factors that have reshaped markets and reinforced the importance of energy security since Axpo launched in Ireland in 2018. “We’ve moved from a very stable and predictable environment to a much more volatile one in which energy security and independence have become critical considerations,” David observes.

This shift has driven growing demand for hedging and risk management solutions as businesses look for greater certainty. “Customers want visibility and control over their energy costs and revenues,” David adds. “We’re seeing increasing demand for solutions that provide certainty over the medium term.”

Through all the ups and downs, Axpo has remained a trusted and reliable partner. “We’ve been through lots together – from the pandemic, the Ukrainian war, the energy crisis and more recently the conflict in the Middle East. Our clients know through experience that we are a reliable partner, regardless of market conditions.”

Enabling Ireland’s energy transition

As Ireland advances its energy transition, Axpo is helping create the conditions needed for renewable investment to thrive. By providing revenue certainty through PPAs and tailored hedging solutions, the company helps developers secure investment and bring projects to market.  

David believes the years ahead will bring further growth but also increased diversity to Ireland’s energy system: “I expect onshore wind and solar technologies to continue expanding, while offshore wind will start contributing to the generation mix. Battery storage will become increasingly important, biomethane production is expected to grow, and Ireland’s thriving data centre sector will continue to influence electricity demand and create new opportunities for innovation and collaboration.”

For Axpo, these developments present opportunities to support customers as they navigate a rapidly evolving landscape. “All these technologies need routes to market, risk management solutions and access to trading expertise,” David explains. “That’s where we can add value.”

Entrepreneurship backed by expertise

David says one of the most rewarding aspects of his role has been the opportunity to build a business from the ground up while benefitting from the backing of one of Europe’s leading energy companies. “It really is the best of both worlds,” he remarks. “We have the agility and entrepreneurial attitude of a young business, combined with the expertise, resources and support of a major, established organisation. We’re encouraged to take the initiative, move quickly and respond to opportunities – knowing we always have strong risk management frameworks and deep expertise behind us.”

David believes successful leadership is built on authenticity, trust, collaboration and decisive action. Together with Axpo’s entrepreneurial culture, these principles have helped drive the company’s growth in Ireland over the past eight years and continue to shape its future.

Looking ahead to a bright tomorrow

From a single employee establishing a new market presence to a trusted partner serving customers across Ireland’s energy sector, Axpo has come a long way in a relatively short time in the Irish energy market. The new Dublin office reflects that journey and Axpo’s long-term commitment to Ireland. As the market evolves, David and his team remain focused on helping customers navigate complexity, manage risk and seize opportunities in the energy transition.

“Our goal is to always be a reliable partner,” David says. “The market will continue to change, but our focus remains the same: supporting our customers through the ups and downs and helping them succeed.”